{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"165","heading":"Amendment of Act 5 of 1873","text":"Amendment of Act 5 of 1873. 165. In the Government Savings Promotion Act, 1873,— (a) | in section 4A, for sub-section (4), the following sub-section shall be substituted, namely:— \"(4) If a depositor dies and no nomination is in force at the time of his death, and the probate of his will or letters of administration of estate or a succession certificate granted under the Indian Succession Act, 1925 (39 of 1925), or legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction, is not produced within six months from the date of death of the depositor to the Authorised Officer, then, where the eligible balance does not exceed such limit as may be prescribed, the Authorised Officer may, for reasons to be recorded in writing, pay the eligible balance to the person legally entitled to receive it or to administer the estate of the deceased in accordance with such procedure and manner as may be prescribed.\"; (b) | in section 15, in sub-section (2), for clause (i), the following clause shall be substituted, namely:— \"(i) | the limit, procedure and manner under sub-section (4) of section 4A;\"; (c) | in the Schedule, in PART A, for serial numbers 7 and 8 and the entries relating thereto, the following shall be substituted, namely:— \"7. Public Provident Fund Scheme 8. National Savings Certificates (VIII Issue) Scheme, 2019 9. Kisan Vikas Patra Scheme, 2019 10. PM CARES for Children Scheme, 2021\".","html":"

Amendment of Act 5 of 1873.

165. In the Government Savings Promotion Act, 1873,—

(a)in section 4A, for sub-section (4), the following sub-section shall be substituted, namely:—
\"(4) If a depositor dies and no nomination is in force at the time of his death, and the probate of his will or letters of administration of estate or a succession certificate granted under the Indian Succession Act, 1925 (39 of 1925), or legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction, is not produced within six months from the date of death of the depositor to the Authorised Officer, then, where the eligible balance does not exceed such limit as may be prescribed, the Authorised Officer may, for reasons to be recorded in writing, pay the eligible balance to the person legally entitled to receive it or to administer the estate of the deceased in accordance with such procedure and manner as may be prescribed.\";
(b)in section 15, in sub-section (2), for clause (i), the following clause shall be substituted, namely:—
\"(i)the limit, procedure and manner under sub-section (4) of section 4A;\";
(c)in the Schedule, in PART A, for serial numbers 7 and 8 and the entries relating thereto, the following shall be substituted, namely:—
\"7. Public Provident Fund Scheme
8. National Savings Certificates (VIII Issue) Scheme, 2019
9. Kisan Vikas Patra Scheme, 2019
10. PM CARES for Children Scheme, 2021\".
","words":245,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/165/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}